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Business

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Qatar’s Islamic lender buys 5% stake in Al Rayan

By TRENDS Desk
August 24, 2021 11:25 am
  • The Islamic lender’s shareholding in Al Rayan rises to 75 percent
  • This represents a purchase of 5,000,000 ordinary shares of GBP1 par value

Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding LLC.

This represents a purchase of 5,000,000 ordinary shares of GBP1 par value.  As a result of the purchase, Masraf Al Rayan shareholding in Al Rayan (UK) Ltd has increased from 70 percent to 75 percent, the bank said in a statement on the Qatar Stock Exchange on Monday.  Al Rayan (UK) Ltd holds 98.34 percent of Al Rayan Bank PLC.

Masraf Al Rayan is in talks with Khalij Commercial Bank over a potential merger, which will lead to the creation of one of the largest Sharia-compliant banks in Qatar and the Middle East.

 

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INSEAD Day 4- 300x600
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